EFG International maintains profitable growth amid an ongoing change process, generating underlying net new asset growth and realising cost synergies as planned in the period from July to end-October 2018.
EFG International plans to relaunch its domestic Italian business and has appointed Giorgio Angelo Girelli as the new Head of its Milan branch, effective 01 December 2018 and subject to regulatory approval.
EFG International announces the appointment of Ranjit Singh as its new Chief Risk Officer and a member of the Executive Committee, effective 01 January 2019 at the latest and subject to regulatory approval.
EFG International today announces that it will combine its Legal and Compliance functions into a single division under the leadership of Yves Aeschlimann as new Group Head of Legal & Compliance, who will join the firm to become a member of EFG International’s Executive Committee, effective 01 May 2019 at the latest and subject to regulatory approval. Vittorio Ferrario, Group Chief Compliance Officer, has decided to leave EFG at the end of the first quarter of 2019 after having successfully completed the BSI integration and substantially strengthened EFG’s regulatory compliance framework.
EFG International has noted today’s announcement of the nomination of Thomas A. Mueller for election to the Board of Directors of Raiffeisen Switzerland, which is expected to take place on 10 November 2018. As of that date, Thomas A. Mueller will step down from his current role as Member of the Executive Committee and Chief Risk Officer of EFG International. EFG will announce a successor in due time.
EFG International is strengthening its regional management team in Asia and today announced the appointment of Tho Gea Hong as CEO of EFG’s Singapore branch, subject to regulatory approval, and Ivan Ferraroni as Head of Global Markets Asia.
As initially announced in its media release of 27 April 2018, EFG International AG intends to repurchase up to six million of its own registered shares. The share buyback programme starts on 27 July 2018 and will last until 30 April 2019 at the latest.
In the first half of 2018, EFG returns to profitable growth amid an ongoing change process, generating positive net asset inflows and increasing underlying profitability through the realisation of targeted cost synergies. EFG continues to deliver on its strategy and to strengthen its competitive market position.
EFG International announced today that it is realigning its executive leadership teams in order to strengthen the focus and responsiveness of the company’s governance structure. EFG International’s Executive Committee will be composed of six members in future. A new Global Business Committee will comprise 13 members, including the heads of EFG’s global regions. EFG’s business in Switzerland, its largest market, is currently divided between two units, which will be combined. The changes take effect on 01 July 2018.
At today’s Annual General Meeting, EFG International’s shareholders approved all proposals made by the Board of Directors, including the management report, the financial statements and the consolidated financial statements for the financial year 2017.
In the context of today’s Annual General Meeting, EFG International provides an update on its business performance. In the year to date, EFG saw underlying net new assets grow within its target annualised range of 3-6%, while also continuing to realise operating cost synergies. EFG intends to repurchase shares from the market to fund its employee incentive plans.
EFG International today announces that Christian Flemming has been appointed Chief Operating Officer and a Member of the Executive Committee, effective 15 January 2018. Mark Bagnall, EFG’s current Chief Operating Officer, will assume the role of Chief Technology Officer, and Peter Fischer will step down as Head of Strategy.